In a dramatic move announced Friday via an interview with Sports Illustrated, the Cleveland Cavaliers won the sweepstakes for the biggest free agent on the market and best player in the world. A member of James' team confirmed the decision to USA TODAY Sports.

James will receive a two-year contract worth about $42 million, a person with knowledge of the negotiations told USA TODAY Sports. The person requested anonymity because the contract has not been made public. The contract initially was reported as a four-year deal, but James is keeping financial flexibility with the shorter time.

What once seemed inconceivable is now a reality. LeBron James is a Cavalier again.

Let that sink in.

LeBron James is a Cavalier again.

"When I left Cleveland, I was on a mission," James told SI. "I was seeking championships, and we won two. But Miami already knew that feeling. Our city hasn't had that feeling in a long, long, long time. My goal is still to win as many titles as possible, no question. But what's most important for me is bringing one trophy back to Northeast Ohio."

The Akron-born James is returning to Cleveland four years after leaving the team in soul-crushing fashion for the Miami Heat, which prompted Cavaliers fans and owner Dan Gilbert to turn viciously on the NBA superstar.

It's an astonishing completion to the circle and a homecoming for the ages: The hometown hero turned reviled villain is again the celebrated hometown hero.

The magnetic pull of returning to Cleveland, where James spent the first seven years of his NBA career, and trying to bring the city its first major championship since 1964 was too strong to resist.

"To make the move I needed the support of my wife and my mom, who can be very tough," James told SI. "The letter from Dan Gilbert, the booing of the Cleveland fans, the jerseys being burned — seeing all that was hard for them. My emotions were more mixed. It was easy to say, 'OK, I don't want to deal with these people ever again.' But then you think about the other side. What if I were a kid who looked up to an athlete, and that athlete made me want to do better in my own life, and then he left? How would I react? I've met with Dan, face-to-face, man-to-man. We've talked it out. Everybody makes mistakes. I've made mistakes as well. Who am I to hold a grudge?"

The 29-year-old went to Miami, won two titles and repaired his reputation. He joined friends and fellow All-Stars Dwyane Wade and Chris Bosh in forming a historic trio, but the Big 3 lasted only four years. He is a four-time MVP, two-time Finals MVP and Hall of Fame-bound superstar.

Goodbye Miami, it was great while it lasted. Hello Cleveland, where there is unfinished business.

It came down to Miami and Cleveland, and home won. His decision now opens the free agent flood gates. Expect teams to start making rapid-fire deals and players to find teams quickly after days of waiting.

His decision also leaves the Heat in a quandary. Chris Bosh agreeing to a five-year contract helps, but the Heat still must remake the roster. Still, this situation is very different than how Cavs fans took James' leaving in 2010.

"While I am disappointed by LeBron's decision to leave Miami, no one can fault another person for wanting to return home," Riley said in a news release. "The last four years have been an incredible run for South Florida, Heat fans, our organization and for all of the players who were a part of it. LeBron is a fantastic leader, athlete, teammate and person, and we are all sorry to see him go.

"Over the last 19 years, since Micky and I teamed together, The Miami Heat has always been a championship organization; we've won multiple championships and competed for many others. Micky, Erik and I remain committed to doing whatever it takes to win and compete for championships for many years to come. We've proven that we can do it and we'll do it again."

Welcome Home @kingjames. I am excited for the fans and people of Cleveland and Ohio. No fans and people deserve a winner more than them.....

James deserves praise for deciding to go back. When he left, Cleveland fans burned his jersey and Gilbert wrote a bitter open letter that attacked James' character. When James returned to Cleveland for the first time as a member of the Heat, the hatred for James pulsated.

Four years later, he put all that aside to do what he believed was the right. He joins a young Cavaliers team, featuring All-Star Kyrie Irving, the No. 1 pick in the 2011 NBA draft and four others selected among the top four picks from the past four drafts: swingman Andrew Wiggins (No. 1 in 2014), forward Anthony Bennett (No. 1 in 2013), guard Dion Waiters (No. 4 in 2012) and forward Tristan Thompson (No. 4 in 2011).

It's obvious James sees more long-term potential with the Cavaliers than with the Heat. Miami wasn't athletic or talented enough to beat the San Antonio Spurs, and Miami's recent free-agent deals with forwards Josh McRoberts and Danny Granger weren't enough to convince James for another stint in Miami.

On Wednesday, the Cavaliers made trades with the Boston Celtics and Brooklyn Nets and created enough cap space to give James a max salary contract, which he sought.

With the Eastern Conference the weaker of the two conferences, James' addition makes the Cavs a contender to win the East. It might not make them favorites to win the title, but with time and development, the Cavs have all the ingredients to compete for a championship soon.

Credit also goes to James' agent for facilitating this reunion. Paul also represents Thompson. Even though the James-Cavs breakup was ugly, Paul remained tight with Cavs executives, including Gilbert and general manager David Griffin. He kept the door open, just in case.

James used the door.

LeBron James is a Cavalier again.

GALLERY: LeBron through the years

LeBron James. What's left to say? Four-time MVP. Two-time champion. Gold medalist. Flip through this gallery for some of the most memorable images of King James' career. David Richard, USA TODAY Sports

The final piece of hardware for King James' 'corination' as an NBA champion came opening night of the 2012-13 season when LeBron James and his Heat teammates were given their championship rings during a ceremony before a game against the Celtics, on Oct. 30, 2012, in Miami. J Pat Carter, AP

Right after he won an NBA title with the Heat, LeBron James was able to drape himself in the American flag after the USA defeated Spain 107-100 in the men's basketball gold medal game at the London Olympics. Rob Schumacher, USA TODAY Sports

After finishing with 26 points, 13 assists and 11 rebounds in Game 5 of NBA Finals, LeBron James was not only able to hoist his first NBA championship trophy, he also was named MVP of the 2012 NBA Finals. Derick E. Hingle, US Presswire

South Beach hasn't always been fun and games for LeBron James. Here he walks off the court after Game 6 of the NBA Finals against the Dallas Mavericks on June 12, 2011. The Mavericks won 105-95 to win the series. Lynne Sladky, AP

Workmen remove a large mural of LeBron James from a building in downtown Cleveland on July 10, 2010 after James, who had played seven years for the Cavaliers, signed with the Miami Heat after becoming a free agent. Mark Duncan, AP

It was during the event to introduce LeBron James, left, and Chris Bosh, right, as Dwyane Wade's newest teammates, that James made his infamous 'Not one, not two, not three ..." prediction about the number of championships the Heat's Big Three would win together. J.Pat Carter, AP

Before the Big Three of Dwyane Wade, left, Chris Bosh, center, and LeBron James, right, had played a single minute together, the Miami Heat threw an elaborate celebration at Miami's American Airlines Arena on July 9, 2010. Al Diaz, AP

In Cleveland, July 8, 2010, will forever be known for 'The Decision,' the day free agent LeBron James announced on ESPN that he was leaving the Cavaliers and taking his 'talents to South Beach' to join the Miami Heat. Bob Luckey, Greenwich Time via AP

Before he left for Miami, LeBron James, celebrating with teammate Sasha Pavlovic after hitting the game winning three pointer against the Orlando Magic in Game 2 of the 2009 Eastern Conference Finals, was perhaps the most popular athlete in Cleveland sports history. Gregory Shamus, Getty Images

Despite a stinging playoff defeat in the 2007-08 Eastern Conference finals by his Cavaliers against the Celtics, LeBron James experienced victory in a busier-than-usual offseason, helping Team USA go undefeated on the way to the gold medal at the Beijing Olympics. Greg Pearson, USA TODAY Sports

LeBron James scored Cleveland's final 25 points as the Cavaliers outlasted the Pistons 109-107 in double overtime of Eastern Conference Finals Game 5 on May 31, 2007. The Cavs overcame a 2-0 series deficit and won in six. Gregory Shamus, Getty Images

LeBron was ruled ineligible and the end of his senior year by the Ohio High School Athletic Association, because he accepted free sports jerseys, bringing a sudden end to the basketball star's celebrated high school career. Tony Dejak, AP

James' road to NBA stardom seemingly started while he was still in high school. As a standout for St. Vincent-St. Mary's High School in Akron, Ohio, James quickly earned "next big thing" status with sports magazine covers and recognition on the USA TODAY All-USA boys basketball team for three consecutive years. Eileen Blass, USA TODAY Sports

Taking a look back at LeBron James' life, from high school superstar to four-time NBA MVP.

2000

2002

2004

2006

2008

2010

2012

2014

1999-2000 Season

FRESHMAN YEAR

Begins high school at St. Vincent-St. Mary in Akron, leading the varsity team to an undefeated record and Division III state title as a freshman.

2000-2001 Season

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SOPHOMORE YEAR

Led St. Vincent-St. Mary to a second consecutive Division III state title and became the first sophomore ever chosen for USA TODAY All-USA First Team.

2001-2002 Season

Sports Illustrated

JUNIOR YEAR

Became first high school player to appear on the cover of Sports Illustrated and the first junior to be named Gatorade National Player of the Year.

2002-2003 Season

Getty Images

SENIOR YEAR

Led St. Vincent-St. Mary to its third state title in four years, averaging 31.6 points, 9.6 rebounds, 4.6 assists and 3.4 steals a game as a senior and becoming the only three-time USA TODAY All-USA First Team player.

Summer 2003

Getty Images

POST-HIGH SCHOOL

Won MVP awards at the McDonald's High School All-American Game, the EA Sports Roundball Classic and the Jordan Capital Classic.

June 23, 2003

Getty Images

NBA DRAFT

Declared for the NBA draft and was selected first overall by the Cleveland Cavaliers, the second high school player picked No. 1 after Kwame Brown in 2001.

2003-2004 Season

ROOKIE OF THE YEAR

Won the 2003-04 NBA Rookie of the Year Award.

Summer 2004

ATHENS OLYMPICS

Named to the disappointing bronze medalist U.S. Olympic team, where his attitude toward sitting on the bench under coach Larry Brown was seen as disrespectful.

January 19, 2005

TRIPLE-DOUBLE

Recorded his first triple-double on January 19, 2005.

2004-2005 Season

ALL-STAR

Selected for the NBA All-Star Game for first time.

February 19, 2006

ALL-STAR MVP

Became youngest-ever All-Star Game MVP at 21 years, 51 days old.

July 8, 2006

BIG MONEY

Signed a three-year, $60 million contract extension with Cavaliers.

2007 Playoffs

FINALS BOUND

Reached his first NBA Finals with the Cavaliers, who were swept by Spurs. To make it there, James put up an all-time great postseason performance (scored 29 of Cleveland's last 30 points, including the game-winner) in Game 5 of the Eastern Conference finals vs. the Detroit Pistons.

2007-2008 Season

PLAYOFFS DISAPPOINTMENT

Named All-Star Game MVP for the second time but lost in the second round of the playoffs to the Boston Celtics.

Summer 2008

BEIJING OLYMPICS

Won gold with Team USA at the Beijing Olympics, averaging 18.1 points, 3.6 rebounds, and 4.7 assists a game during the undefeated run.

2008-2009 Season

MVP

Named NBA MVP for the first time, becoming the first Cavaliers player to do so.

2008-2009 Season

MORE POSTSEASON DISAPPOINTMENT

Lost in the Eastern Conference finals to the Orlando Magic and left the court without shaking opponents' hands.

2009-2010 Season

SECOND MVP

Won his second MVP award but again lost in the second round to the Celtics.

July 8, 2010

THE DECISION

Became an unrestricted free agent and staged a TV special, "The Decision," to announce signing with the Miami Heat, where he joined friends and fellow Olympians Dwyane Wade and Chris Bosh.

2010-2011 Season

THE BIG 3

Advanced to the NBA Finals and lost to the Dallas Mavericks in six games in the Big 3's first season together.

2011-2012 Season

FINALLY, A RING

Named NBA MVP for a third time and defeated the Oklahoma City Thunder in the NBA Finals, earning his first championship ring and Finals MVP.

Summer 2012

LONDON OLYMPICS

Took home a second consecutive Olympic gold medal, at the London Games, and recorded the first triple-double in U.S. Olympic history.

2012-2013 Season

MVP NO. 4, RING NO. 2

Won his fourth MVP award, then beat the San Antonio Spurs in seven games in a memorable NBA Finals for his second Finals MVP and championship.

March 3, 2014

CAREER RECORD

Scored a career-high 61 points against the Charlotte Bobcats.

2013-2014 Season

NO THREE-PEAT

Earned a fourth consecutive trip to the NBA Finals, where the Heat lost to the Spurs in five games despite strong efforts from James.

June 24, 2014

FREE AGENCY

Informed the Heat that he would opt out of his contract to become an unrestricted free agent.

July 11, 2014

COMING HOME

After a free agency frenzy, James announced his return to the Cleveland Cavaliers via a letter in Sports Illustrated.